Update 12: 00 clock
For NEVS and the future of the company, another fateful day is on the agenda today. It is about the desired haircut, it is about the exit from the reconstruction.
From 10.00 o'clock meets the responsible court; A high approval of the creditors was signaled in advance. But the last word is left to the judges.
If the day runs as intended for NEVS, then, after the legal validity has arrived, the reconstruction could be abandoned in mid-April. The first installment of 50% debt has to be paid 60 days later, the rest after 6 months.
Within the first 60 days after completion of the reconstruction, NEVS intends to conclude the negotiations and announce the entry of new partners.
Update 10: 30
Meanwhile, the court has begun hearing the creditors. The NEVS management is present, owner Kai Johan Jiang himself is not present on site. He is in China and leads, as press officer Östlund announced, talks about the further financing of NEVS. If the company leaves the protection of the reconstruction, then Kai Johan Jiang must be ready for the financing until the entry of new shareholders.
Update 11: 10
Mathias Bergman has the word. The negotiations are complicated and not yet completed. The financing of the debt reduction will be borne by principal shareholder Kai Johan Jiang. The claims are to be paid by the assets that he has in China.
The first technical collaboration between NEVS and a new partner is scheduled to start in April, saving NEVS a lot of running costs. It is unclear whether contracts have already been signed.
NEVS wants to leave the reconstruction in April.
Update 11: 20
Referring to the Fröberg article in the SVD Bergman clarifies that there have been negotiations over the trademark rights. In order to get a new main shareholder, the question of trademark rights would first have to be resolved. There are negotiations, but they are not over.
In addition, NEVS is discussing further corporate financing with a Chinese bank. The chances of a loan are good.
NEVS has accumulated 600 million kroner (62 million €) as liabilities. Now it goes to the vote, then the final decision is in the court.
Update 11: 40
More than 98% of the creditors are for the debt haircut. The final decision is now before the court. It can be made today, but it does not have to.
Update 12: 00
The court approves the haircut, NEVS is a big step further….